Overview
- The retailer sought CCAA protection to evaluate restructuring, a potential sale, or liquidation under the oversight of Alvarez & Marsal.
- Twenty-two locations continue to operate, with the company warning of possible additional closures after 53 shutdowns over the past two years.
- Court filings show at least $120 million owed to merchandise vendors, with reporting indicating roughly $160 million in total liabilities including rent and service arrears.
- Previously issued gift cards are being honored for 14 days from the filing, and about $36 million in outstanding gift card obligations are noted in records.
- E-commerce is paused with purchases directed to stores, and the company faces lawsuits from suppliers and landlords including a lease termination by RioCan over unpaid rent.